The Business Magazine - B2B Business News - Site Logo

Warning: Undefined array key "tbm_visit_edition_me" in /home/970822.cloudwaysapps.com/utkbfqnuhr/public_html/wp-content/plugins/oxygen/component-framework/components/classes/code-block.class.php(133) : eval()'d code on line 27
The Business Magazine - B2B Business News - Site Logo
The Business Magazine July 2024
Read now
PICK YOUR EDITION

MitoRx therapeutics announces seed financing to advance its mitochondrial-protective therapeutics to treat degenerative diseases

The Business Magazine article image for: MitoRx therapeutics announces seed financing to advance its mitochondrial-protective therapeutics to treat degenerative diseases
27 April 2022

Biotechnology company MitoRx Therapeutics, which is developing novel therapeutics that reverse mitochondrial dysfunction to arrest the progression of degenerative diseases, has announced the close of its seed financing. Financial details have not been disclosed.

The Oxford-based company has, however, confirmed the appointment of Glyn Edwards MBE as chairman. Glyn brings specialist industry experience developing therapeutics for Duchenne muscular dystrophy and progressing these to late-stage clinical trials.

The company’s first-in-class therapeutic pipeline targets mitochondria, the power stations of the cell. Mitochondrial dysfunction has been linked to the progression of rare diseases such as the neuromuscular disorder Duchenne muscular dystrophy, the neurodegenerative disorder Huntington’s disease, and it has also been implicated in common neurodegenerative diseases.

Dr. Jon Rees (pictured) CEO of MitoRx, said, “I’ve long been fascinated by how reversing mitochondrial dysfunction could arrest the progression of degenerative diseases, which place great burdens on patients and healthcare systems. This seed financing will enable us to advance MitoRx’s first-in-class therapeutic pipeline.

"We are the first biotech to address dysfunction of sulfide-signalling, a fundamental part of life’s energy systems. I’m also delighted to welcome Glyn to the team whose wealth of experience will be a great asset as we accelerate our novel pipeline of small molecule mitochondrial protective therapeutics towards the clinic.”

The seed financing was backed by a broad range of investors including the UK Innovation & Science Seed Fund, Wren Capital, Longevitytech.fund, The Fink Family Office, the Science Angel Syndicate Network, Oxford Technology Management, as well as angel investors. The seed financing will be used to fund pre-clinical proof-of-concept platform development and explore research collaborations and partnerships.

 


Share 

Peter Davison is deputy editor of The Business Magazine. He has spent his life in journalism – doing work experience in newsrooms in and around Bristol while still at school, and landing his first job on a local newspaper aged 19. By 28 he was the youngest newspaper editor in the country.

An early advocate of online news, he spent the first years of the 2000s telling his bosses that the internet posed both the biggest opportunity and greatest threat to the newspaper industry and the art of journalism. He was right on both counts.

Since 2006 he has enjoyed a career as a freelance journalist. He lives in rural Wiltshire with one wife, two children, and three cats.

Latest deal ticket

All deals

Events

All events

Related news


Group Titles

Dorset BIZ NewsHampshire BIZ News
cross